Sep 22, 2011

You've heard Obama and his cliches, empty one-liners without any substance. Now hear Paul Ryan with his rational exposition on what we're up against. It is a must read for anyone who thinks about cheering to "Pass the bill."

"Credibility Deficit Widens with President’s Third “Budget” in Seven Months

President’s “Math” Doesn’t Add Up
September 21, 2011

"In the span of seven months, President Obama has offered three different budget plans for the federal government. He offered an actual budget in February, a budget “framework” in April, and yet another tax-and-spend plan this past week (more spending in the “American Jobs Act”; more taxes in a new plan unveiled yesterday). Unfortunately, none of these approaches has provided the kind of leadership that America needs to lift the crushing burden of debt while promoting sustained economic growth.

The following House Budget Committee analysis unpacks the President’s widening credibility deficit – on taxes, spending, debt, and gimmicks.

Tax Hikes on Job Creators: Contrary to claims of “balance,” the President’s latest tax-and-spend plan is dominated by higher taxes. Not including war spending and estimated savings in debt-service costs, 80 percent of the deficit-reduction claims take the form of higher taxes. At a time when economic growth remains stagnant and private-sector job creation remains elusive, the President’s calls for tax increases are deeply misguided.

Doubles Down on Health Care Rationing: This Administration’s misguided approach to health care spending is most evident in its doubling down on the President’s new health care law. Instead of offering a plan to save and strengthen critical health and retirement security programs so that government can keep its promises to current and future generations, the proposal claims that 90 percent of its Medicare savings will come from the same kinds of price controls that have failed in the past. If tried on the scale that the President wants, these restrictions would result in reduced access and denied benefits for current seniors.

Lack of Credibility Reveals Deeper Flaws: Rebutting criticism of a plan marked by divisive substance and marketed with partisan rhetoric, President Obama said yesterday: “It’s not class warfare. It’s math.” The President’s comments demand attention to the numbers. And the numbers underscore this President’s lack of fiscal seriousness. Because of empty promises made by politicians of both political parties, the federal government faces tens of trillions of dollars in unfunded liabilities. The President has called for even higher taxes and deeper Medicare cuts – yet “math” reveals that he is still not being honest with the American people on what will be needed to seriously confront our looming fiscal crisis.
The unavoidable truth of the matter is that this President remains wedded to an unsustainable trajectory of government spending. The tax increases and Medicare price controls he has proposed are insufficient to match the spending he’s promised.

Even if a company is financially sound and they have the numbers to prove it, the market can still snub those strong fundamentals simply because it perceives the economic environment to be unstable or negative. The perception may be unfounded, but it is the reality of the investor.

In the current US markets, the negative perception of the markets is caused by the political situation where Obama has promised much and delivered little. Worse, "his spread the wealth" policies has spooked investors and businesses to expand. Hence it is not just a bad feeling of the capitalists, it is a bad feeling based on real taxes and real regulations. So no one is just getting emotional because people are feeling the pinch when they have to stay late and submit more forms to the government and pay more taxes and fees.

Given all the these, anyone can see that Obama is the problem. His side will deny that and blame Bush or come out with some other spin but, whom are they fooling. Knowing that, we all know what the solution is i.e. simply get rid of Obama and undo his wrongs. People know that and plan to vote him out in 2012.

In my mind, time is money. So, why wait until 2012 and lose more jobs and exaccerbate the situation? A stitch in time saves nine so, why don't we start stitching now? Congress needs to focus on impeaching Obama with anything and everything - from his birth certificate to the impropriety of the loans given to political supporters.

Once he's out, the perception will improve guaranteed - even if Biden takes over. He does not have a Socialist agenda to begin with so, he's not a harmful. Once the perception improves, investors invest, businesses expand and people start spending resulting into increased revenues, profitability and employment.

Let's change the perception now and expel, impeach, arrest or get rid of Obama in one legal way or the other. Now is the time because time is money and money is life. 2012 is too late and those who wait do a disservice to America.

This must be the training that Muslims wanted to shut down. You decide if it is objective or prejudiced. I think it is quite even handed, factual and objective. Muslims just want to cover and conceal their agenda and hamstring the efforts of law enforcers - IMHO.